Boralex Responds to Recent Statements in the Media

Montréal (Canada) March 23, 2026 – Boralex Inc. (the "Corporation") is aware of recent statements in the media regarding a strategic review of alternatives being conducted by the Corporation. The Corporation confirms that its Board of Directors has formed a special committee to review and recommend strategic alternatives. The special committee is continuing its strategic review and there can be no assurance that such review will result in a transaction. The Corporation remains focused on its stated business strategy and enhancing value for its shareholders. The Corporation does not intend to make any further comment unless or until there is a definitive transaction to announce or unless otherwise determined that further disclosure is appropriate or required by law.

Caution Regarding Forward-Looking Statements 

Some of the statements contained in this press release are forward-looking statements within the meaning of securities legislation, including statements about the review of strategic alternatives available to the Corporation and the potential outcome thereof, which are based on current expectations. Boralex would like to point out that, by their very nature, forward-looking statements involve risks and uncertainties such that its results or the measure it adopts could differ materially from those indicated by or underlying these statements, or could have an impact on the degree of realisation of a particular forward-looking statement. The important risks and uncertainties that may cause the actual results and future events to differ significantly from the expectations currently expressed include the risk that the strategic review process may not result in a transaction on suitable terms, or at all, and other risks and uncertainties affecting the Corporation, including those considered in the sections dealing with risk factors and uncertainties appearing in the Corporation's MD&A for the fiscal year ended December 31, 2025. Unless otherwise specified by the Corporation, the forward-looking statements do not take into account the possible impact on its activities, transactions, non recurring items or other exceptional items announced or occurring after the statements are made. There can be no assurance as to the materialisation of the results, performance or achievements as expressed or implied by forward-looking statements. The reader is cautioned not to place undue reliance on such forward-looking statements. Unless required to do so under applicable securities legislation, Boralex management does not assume any obligation to update or revise forward-looking statements to reflect new information, future events or other changes.

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